Bon-Ton Stores looks headed to closure; future of local Carson's unclear

Jeannie Matthews
April 17, 2018

According to a story in The Buffalo News, the end could be close for the Bon-Ton.

According to Reuters, only two bidders - both liquidators - made offers to purchase the bankrupt department store chain at an auction on Monday.

As of late Monday, the auction had not concluded, according to sources.

But when the bidding opened, reports indicate the only firms offering bids were liquidators. It has stores throughout the state including the Boston Stores at Mayfair Mall in Wauwatosa, Southridge Mall in Greendale, the Shops of Grand Avenue in downtown Milwaukee, Bayshore Town Center in Glendale, Brookfield Square Mall in Brookfield and Regency Mall in Racine. SiouxFalls.Business reports Bon-Ton has not been profitable since 2010.

Bon-Ton had been working with an investor group that included USA mall owners Namdar Realty Group and Washington Prime Group Inc.to secure a bid that would have kept Bon-Ton in business as a going concern.

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Bon-Ton, a bankrupt chain of 200 regional department stores with almost 20,000 employees, had been working with US mall owners Namdar Realty Group and Washington Prime Group, Inc.to secure a bid that would have kept open a large portion of Bon-Ton locations.

A group of second lien bondholders had objected to Bon-Ton's request to pay the fee.

Bon-Ton is a regional chain of almost 200 stores.

Reuters reported Tuesday that money raised from the auction will be used to repay what is owed to Bon-Ton's creditors.

Sports Authority Holdings Inc, apparel chain The Limited Stores LLC and electronics seller hhgregg Inc are among the chains that have gone out of business recently.

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